Introduction
Group health insurance is one of the most common sources of health insurance for most people. This is because they are offered on a company level. More people can get quality cover at a very affordable cost.
History
People spend so much money on healthcare each year. It is quite expensive if one has to pay cash every time they visit the doctor. This is the reason why health insurance is one of the most important covers anyone would want. The various plans in the market range from individual plans to insurance group health. Individually, you may find that paying for your own health insurance can be quite expensive.
Luckily for most people, employers provide insurance group health. This means that you need not pay anything at all to access healthcare services. Most people have to ensure that their job offers health insurance before they sign up with certain companies. This is because the benefits one gets from such plans save a lot of money and come in handy for emergency conditions. Being a competitive market, most employers have realized that they have to offer life insurance to their employees if they are to keep them at all since health insurance is valued highly.
Features
Most companies that offer insurance group health also benefit considerably from the package. They get tax deductions for offering insurance cover. Employees also benefit since the compensation offered by the employers to meet premiums also remains untaxed.
The most advantageous factor about insurance group health is their affordability. It is very easy to provide insurance to one hundred people at a very cheap price. This is because the rates are based on the group instead of the individual. The quality of the insurance covers do not deteriorate from individual to group as one can totally enjoy the same protection whether alone or part of a group.
Once the company has purchased their insurance group health cover, everyone in the group is issued with an insurance certificate which they can use within a number of health institutions. The cover can be renewed each year for all the employees.
Tips and comments
An individual who is part of an insurance group health plan can be sure of their eligibility. This is because, unlike individual insurance plans, you will not be required to undergo any physical examination processes. Your name is simply forwarded as part of the group and you are insured. It is easy to get rejected when getting individual insurance since some pre-existing conditions may disqualify you.
When it comes to the payment for insurance group health, most employers foot the bill for their employees. However, in some companies, this money is deducted from the employees’ salaries, but you can be sure that your employer will come up with a flexible plan to ensure that you take home a considerable percentage of your salary.
When shopping for insurance group health, you should be more involved. It requires a lot of information, and you may need to go through the process carefully with your provider. Have them take you through the entire process quickly and efficiently.
